Apollo Tyres Ltd Share Price – NSE  /  BSE

Tyres, Small Cap

Apollo Tyres Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 487.3, up 0.15% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is down around 0.03% on the day, quoting at 22396.45. The Sensex is at 73852.17, down 0%. Apollo Tyres Ltd has risen around 3.36% in last one month.

Meanwhile, Nifty Auto index of which Apollo Tyres Ltd is a constituent, has risen around 4.4% in last one month and is currently quoting at 21896.9, up 0.3% on the day. The volume in the stock stood at 4.48 lakh shares today, compared to the daily average of 19.85 lakh shares in last one month.

The benchmark April futures contract for the stock is quoting at Rs 486.6, up 0.22% on the day. Apollo Tyres Ltd is up 45.53% in last one year as compared to a 25.73% spurt in NIFTY and a 69.3% spurt in the Nifty Auto index.

The PE of the stock is 25.26 based on TTM earnings ending December 23.

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Revenue from operations rose 2.69% year on year (YoY) to Rs 6,595.37 crore in the quarter ended 31 December 2023.

Profit before exceptional items and tax stood at Rs 735.89 crore in Q3 FY24, up 73.67% from Rs 423.73 crore posted in corresponding quarter previous year. The firm reported an exceptional loss of Rs 15.10 crore during the third quarter of FY24.

During the quarter, total expenses fell 2.13% YoY to Rs 5,877.93 crore. Cost of materials consumed stood at Rs 2884.63 crore (down 3.6% YoY) while employee benefit expenses was at Rs 766.91 crore (up 14.06%) during the period under review.

On nine-month basis, the company's consolidated net profit surged 115.21% to Rs 1,367.79 crore on 4.36% rise in net sales to Rs 19,119.51 crore in 9M FY24 over 9M FY23.

Apollo Tyres principal business activity is manufacturing and sale of automotive tyres.

Shares of Apollo Tyres declined 1.78% to Rs 542.40 on the BSE. The counter hit a 52 week high of Rs 559.85 in today’s intraday session.

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Net profit of Apollo Tyres rose 70.01% to Rs 496.63 crore in the quarter ended December 2023 as against Rs 292.11 crore during the previous quarter ended December 2022. Sales rose 2.69% to Rs 6595.37 crore in the quarter ended December 2023 as against Rs 6422.75 crore during the previous quarter ended December 2022.

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Apollo Tyres will hold a meeting of the Board of Directors of the Company on 7 February 2024.

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